ISLAMABAD: Turkish investors have expressed a keen interest in supporting Pakistan’s construction sector by setting up industrial units in the country.
The interest to this effect was shown by a delegation of Turkish investors during their visit to the Islamabad Chamber of Commerce and Industry (ICCI), according to a statement issued on Monday.
The Turkish delegation included ADO Group President Mustafa Sak, Chairman Kamil Arsalan, and Bricks Plus and NG Kutahya Seramik Porselen Turizm Area Manager Mustafa Orhon. Imarat Group of Companies Chairman Shafiq Akbar, ICCI President Sardar Yasir Ilyas Khan, former president Muhammad Ejaz Abbasi, Islamabad Builders Association (IBA) President Chaudhry Naseer were also present on the occasion.
Briefing the delegation on potential business and investment opportunities in Pakistan’s real estate and construction sector, Sardar Yasir highlighted that Pakistan was a massive market with a huge demand for housing units and commercial buildings, adding that the incumbent government had announced a very attractive package to boost construction activities, making it the right time for foreign investors to explore the country’s real estate and construction industry for joint ventures (JVs) and investment.
The ICCI president assured the foreign delegation that the chamber would extend all possible assistance and facilitation for this purpose.
Speaking on the occasion, ADO Group President Mustafa Sak said that they have seen a huge potential for investment in Pakistan and they wanted to set up industrial units to produce construction material and products to meet the needs of the local construction industry.
He said that Turkish investors’ collaboration with Pakistani counterparts would be beneficial for both the countries, adding that Pakistan and Turkey were negotiating a preferential trading agreement, aiming to considerably increase trade and investments, especially in transport, telecommunications, manufacturing, tourism and other industries. He hoped that the finalization of PFA would further increase the volume of bilateral trade between the two countries.
Shafiq Akbar, Chairman Imarat Group of Companies, said his company was working to bring more investors from Turkey to Pakistan, as that would not only improve bilateral trade ties, but would also strengthen the bond of friendship between the two countries.
He opined that Pakistan’s economic growth could be maximised if Turkish investors, with their technical expertise, set up industrial units in the country.